{"id":647,"date":"2011-02-01T18:49:08","date_gmt":"2011-02-02T00:49:08","guid":{"rendered":"http:\/\/opengecko.com\/economics\/monopoly\/"},"modified":"2011-02-01T18:49:08","modified_gmt":"2011-02-02T00:49:08","slug":"monopoly","status":"publish","type":"post","link":"https:\/\/opengecko.com\/geckoview\/economics\/monopoly\/","title":{"rendered":"Monopoly"},"content":{"rendered":"<p>The IB syllabus requirements for this sub-topic are to understand:<\/p>\n<ul>\n<li>Assumptions of the model <\/li>\n<li>Sources of monopoly power\/barriers to entry <\/li>\n<li>Natural monopoly <\/li>\n<li>Demand curve facing the monopolist <\/li>\n<li>Profit-maximizing level of output <\/li>\n<li>Advantages and disadvantages of monopoly in comparison with perfect competition <\/li>\n<li>Efficiency in monopoly <\/li>\n<\/ul>\n<p>Here are a selection of useful resources to further your understanding of the above.<\/p>\n<p>Two very good presentations on monopolies courtesy of <a title=\"http:\/\/www.reffonomics.com\" href=\"http:\/\/www.reffonomics.com\">http:\/\/www.reffonomics.com<\/a>:<\/p>\n<p><a href=\"http:\/\/www.reffonomics.com\/TRB\/chapter10\/monopolyinteractive1.swf\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" style=\"background-image: none; border-bottom: 0px; border-left: 0px; padding-left: 0px; padding-right: 0px; display: inline; border-top: 0px; border-right: 0px; padding-top: 0px\" title=\"image\" border=\"0\" alt=\"image\" src=\"https:\/\/opengecko.com\/geckoview\/wp-content\/uploads\/2011\/02\/image.png\" width=\"550\" height=\"382\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><a href=\"http:\/\/www.reffonomics.com\/TRB\/chapter10\/monopolyinteractivegraph2.swf\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" style=\"background-image: none; border-bottom: 0px; border-left: 0px; padding-left: 0px; padding-right: 0px; display: inline; border-top: 0px; border-right: 0px; padding-top: 0px\" title=\"image\" border=\"0\" alt=\"image\" src=\"https:\/\/opengecko.com\/geckoview\/wp-content\/uploads\/2011\/02\/image1.png\" width=\"550\" height=\"414\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><iframe loading=\"lazy\" class=\"youtube-player\" title=\"YouTube video player\" height=\"390\" src=\"http:\/\/www.youtube.com\/embed\/7UWgKZsKZOc\" frameborder=\"0\" width=\"480\" type=\"text\/html\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Above Video Source: <a href=\"http:\/\/www.youtube.com\/user\/mjmfoodie\"><strong>mjmfoodie<\/strong><\/a><\/p>\n<p><a href=\"http:\/\/www.youtube.com\/user\/pajholden\"><strong>pajholden<\/strong><\/a> asks if monopoly is bad <a href=\"http:\/\/www.youtube.com\/watch?v=qdRGUaTHVig\" target=\"_blank\">here<\/a>?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IB syllabus requirements for this sub-topic are to understand: Assumptions of the model Sources of monopoly power\/barriers to entry Natural monopoly Demand curve facing the monopolist Profit-maximizing level of output Advantages and disadvantages of monopoly in comparison with perfect competition Efficiency in monopoly Here are a selection of useful resources to further your understanding&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,10],"tags":[197,214,190],"class_list":["post-647","post","type-post","status-publish","format-standard","hentry","category-economics","category-ib-economics","tag-microeconomics-2","tag-monoploy","tag-theory-of-the-firm"],"_links":{"self":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/comments?post=647"}],"version-history":[{"count":0,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/647\/revisions"}],"wp:attachment":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/media?parent=647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/categories?post=647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/tags?post=647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}